BB&T 2008 Annual Report Download - page 73

In addition, in connection with the sale of preferred stock to the Treasury Department under the CPP, BB&T is
restricted from raising its dividend above the current level of $.47 per share, without the prior approval of the
Treasury Department, for three years or until the preferred stock has been repaid.
BB&T’s common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “BBT”.
BB&T’s common stock was held by approximately 358,000 shareholders at December 31, 2008 compared to
approximately 324,000 at December 31, 2007. The accompanying table, “Quarterly Summary of Market Prices and
Dividends Paid on Common Stock,” sets forth the quarterly high and low trading prices and closing sales prices
for BB&T’s common stock and the dividends paid per share of common stock for each of the last eight quarters.
Table 27
Quarterly Summary of Market Prices and Cash Dividends Paid on Common Stock
2008 2007
Sales Prices Cash
Dividends
Paid
Sales Prices Cash
Dividends
PaidHigh Low Last High Low Last
Quarter Ended:
March 31 $36.96 $25.92 $32.06 $ .46 $44.30 $39.54 $41.02 $ .42
June 30 37.85 21.40 22.77 .46 43.02 39.13 40.68 .42
September 30 45.31 18.71 37.80 .47 43.00 36.95 40.39 .46
December 31 40.00 21.47 27.46 .47 42.61 30.36 30.67 .46
Year 45.31 18.71 27.46 $1.86 44.30 30.36 30.67 $1.76
Share Repurchases
BB&T has periodically repurchased shares of its own common stock. In accordance with North Carolina law,
repurchased shares cannot be held as treasury stock, but revert to the status of authorized and unissued shares
upon repurchase.
On June 27, 2006, BB&T’s Board of Directors granted authority under a plan (the “2006 Plan”) for the
repurchase of up to 50 million shares of BB&T’s common stock as needed for general corporate purposes. The
2006 Plan also authorizes the repurchase of the remaining shares from the previous authorization. The 2006 Plan
remains in effect until all the authorized shares are repurchased unless modified by the Board of Directors. No
shares were repurchased in connection with the 2006 Plan during 2008. During the years ended December 31,
2007 and 2006, BB&T repurchased 7 million shares and 22 million shares of common stock, respectively. In
connection with the sale of preferred stock to the Treasury Department under the CPP, BB&T is restricted from
repurchasing shares of its common stock, except for shares repurchased in connection with employee benefit
plans based on normal past practices, for three years or until the preferred stock has been repaid.
Table 28
Share Repurchase Activity
2008
Total Shares
Repurchased (1)
Average
Price Paid
Per Share (2)
Total Shares Purchased
Pursuant to
Publicly-Announced Plan
Maximum Remaining
Number of Shares
Available for
Repurchase Pursuant to
Publicly-Announced Plan
(Shares in Thousands)
October 1-31 3 $31.53 — 44,139
November 1-30 3 31.94 — 44,139
December 1-31 7 28.72 — 44,139
Total 13 30.11 — 44,139
(1) Repurchases reflect shares exchanged or surrendered in connection with the exercise of equity-based awards
under BB&T's equity-based compensation plans.
(2) Excludes commissions.
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